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Predict the price of BTC at 20th April 00:00 (UTC+0) to win up to $10000 of SATS token rewards!
To mark this milestone of Bitcoin Halving, all verified users can complete specific tasks on Binance Square during the Activity Period, and qualify for up to $10,000 of SATS token voucher reward. Activity Period: 2024-03-04 09:00 (UTC) to 2024-04-14 09:00 (UTC)All KYC-verified Binance users who log into their Binance accounts and complete the following tasks during the Activity Period will qualify for the $10,000 of SATS reward. Tasks: Comment your prediction for the price of BTC on 20th April 00:00 (UTC+0) on this post. Share this post on your social media and #HalvingHorizonsThe user with the closest prediction will win $5000. If more than one user shares the same prediction, you’ll share the price pool. AndIf you correctly guessed the price and signed up for a Binance account during the activity period through the shared link of this post or the Binance Square referral link, you can unlock a share of extra $2000 price poolAndIf you correctly guessed the price and completed at least 10 trades during the activity period, you will unlock a share of the extra $3000 price poolEach user can only submit 1 entry. Terms & ConditionsThis activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order to qualify.The $10,000 of SATS token voucher rewards pool will be divided equally among all qualified users.Winners will be notified via a push notification under Creator Center > Square Assistant. Voucher rewards will be distributed within 21 working days after the activity ends. Users may check their voucher rewards via Profile > Rewards Hub. The validity period for the voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
$BTC MetaVerse
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A Brief History of the Metaverse and Crypto’s Role in It
TL;DR
The term “metaverse” describes the collective virtual spaces where our physical and digital worlds intersect. The concept has been bending the minds of science fiction enthusiasts for ages. However, it has only recently begun to show indications of becoming a reality, with technological advancements and the proliferation of the Internet. The role of blockchain technology in the metaverse has also become increasingly important, as it provides the infrastructure for creating a decentralized and secure platform on which it can be built.
Introduction
The term "metaverse" was first coined in the early ’90s in the sci-fi world. In the years since, the concept of a metaverse has evolved due to recent technological innovations. It has also gained increasing attention as a potential digital platform for both social and economic activity.
The rise of blockchain technology and cryptocurrency has also played an important role in the development of the metaverse. Many projects have already explored it, using these technologies to create decentralized and immersive virtual worlds. This article will provide a brief history of the metaverse and explore crypto's role in its evolution.
Defining the Metaverse
The metaverse is still not entirely defined. However, the general idea is that it is a virtual space connecting our digital and real-world lives. Some call it the next evolution of the Internet that will make online experiences interactive and immersive.
Defining the metaverse is difficult as it encompasses much more than just a single product, service, or project. Instead, it combines different technologies, such as the Internet, augmented reality (AR), virtual reality (VR), artificial intelligence (AI), 3D reconstruction, and the Internet of Things (IoT).
In science fiction where the term “metaverse” originated, it’s portrayed as a highly immersive and interactive virtual world. Today, blockchain technology and cryptocurrencies are taking actionable steps to make this concept a reality.
The Web3 movement has shown that the metaverse is not just confined to the sci-fi genre but is something that might already exist. Web3 has been forming an ecosystem that incentivizes developers to build metaverse-like decentralized applications (DApps), such as play-to-earn (P2E) games. Games like Axie Infinity, The Sandbox, and Decentraland already contain aspects of the metaverse, connecting elements of players' lives to online worlds.
A Brief History of the Metaverse
Over the years, different ideas and technological advancements have driven us closer to the concept of the metaverse we currently understand. From the concept of binocular vision, through the creation of Bitcoin and Ethereum, all the way to the rebranding of Facebook – the metaverse has a deep foundation.
1838
As mentioned earlier, the metaverse will probably use VR technology to immerse people in digital environments. The earliest instance of VR occurred in 1838, when scientist Sir Charles Wheatstone outlined the concept of "binocular vision," constructing a single 3D image.
This initial research led to the development of stereoscopes, a technology that uses the illusion of depth to create an image — the same technology VR headsets utilize today.
1935
American sci-fi author Stanley Weinbaum published the book Pygmalion's Spectacles, which introduced readers to the possibility of virtual reality. The book's main character immerses himself in a fictional world using a pair of goggles that mimic all human senses, making the world seem real.
1938
It's often said that French poet and playwright Antoine Artaud was the first to use the term "virtual reality" or "la réalité virtuelle." He wrote about it in his collection of essays, The Theater and its Double, where he spoke about how theaters can stage characters, objects, and images to create alternative worlds.
1962
American filmmaker Morton Heilig built a machine that made people feel like they were riding a motorcycle in another location. The device, named Sensorama, immersed its users in a different reality by combining effects such as a moving seat, scents, and 3D screens. Even though the machine never progressed past the prototype stage, it demonstrated the possibility of blurring the lines between illusion and reality.
1984
Virtual reality pioneers Jaron Lanier and Thomas G. Zimmerman founded VPL Research, Inc., one of the first companies to develop and sell VR products such as VR headsets and data gloves (or wired gloves).
1989
British computer scientist Tim Berners-Lee wrote the first proposal for the World Wide Web while working at CERN. The web was initially created for universities and institutions to share information worldwide.
1992
The metaverse was first mentioned in the sci-fi novel Snow Crash by Neal Stephenson. The American sci-fi writer illustrated a dystopian future world that allowed people to use digital avatars to escape to a better alternate reality.
1993
Computer scientists Moni Naor and Cynthia Dwork invented the proof-of-work (PoW) concept to prevent service misuses, such as denial-of-service attacks and network spam. This controlled unwanted network behavior by requiring proof of work, such as computer processing time, from a service requester.
2003
Linden Lab launched multimedia platform Second Life. While not fully immersive (no goggles or gloves are involved), users can connect to shared virtual spaces to explore, interact, and create using their computers. Second Life is not seen as a game but more of an online gathering place where anyone can create a new digital presence.
2006
Roblox Corporation released the game platform Roblox, which allows users to play various multi-player games. In addition, users can develop their own games and for others to play. While users can play Roblox for free, it has an in-game store where players can spend their virtual money, called Robux.
2007
Google released Street View to add to its existing Maps product. Street View enables people to turn a map into a representation of the real world — anyone can view a street on their mobile device or computer as it appears in real life.
2009
Satoshi Nakamoto announced the first major decentralized blockchain and cryptocurrency, Bitcoin, in 2008. He then mined the first BTC in 2009.
2012
Entrepreneur Palmer Luckey launched Oculus, a headset whose hardware can connect users to a 3D virtual world where they can work, socialize and enjoy entertainment. Two years later, in 2014, Facebook bought Oculus, intending to scale the technology for the masses.
2014
Kevin McCoy and Anil Dash minted the first ever non-fungible token (NFT), Quantum, which contained an image of a pixelated octagon. Minted on the Namecoin blockchain, it wasn't called an NFT but instead, conceptualized as "monetized graphics".
2015
Vitalik Buterin proposed the idea of Ethereum in a 2013 blog post titled Ethereum: The Ultimate Smart Contract and Decentralized Application Platform. The decentralized computing platform Ethereum then launched in 2015. Ethereum allows developers to experiment with their own code to create DApps by using smart contracts.
2016
2016 was the year of both decentralized autonomous organizations (DAOs) and Pokémon GO coming into existence. The first DAO, simply called The DAO, was launched on Ethereum with a vision that every member could comprise its governing body.
Pokémon GO, which uses AR to connect to a 3D map of the real world, has become one of the most successful mobile games of all time. In 2016 alone, it became one of the world’s most profitable and widely used mobile apps, having been downloaded over 500 million times globally by the end of the year.
2021
Facebook rebranded to Meta, which then established the metaverse as something more tangible than a sci-fi concept. Since then, the company has invested billions of dollars in developing and acquiring metaverse-related resources such as metaverse content, software, and AR and VR headsets.
2022
Siemens and NVIDIA announced a joint partnership to create the Industrial Metaverse. The collaboration draws on Siemens’ reputation in industrial automation and software, infrastructure, building technology, and transportation and NVIDIA’s status as a pioneer in accelerated graphics and AI. According to the Siemens CEO, the collaboration will enable a real-time, immersive metaverse that connects hardware and software.
Blockchain and Crypto’s Role in the Metaverse
Blockchain technology and cryptocurrency can play a foundational role in metaverse development. Firstly, blockchains can provide the infrastructure for secure and transparent transactions in the metaverse, such as cryptocurrencies for fast and secure transfers of value. Secondly, the nature of Ethereum enables the creation of NFTs, which can be used to represent unique virtual items in the metaverse.
Thirdly, DApps could make metaverse services and functionality more decentralized so it won’t be controlled by any single organization. They can also enable users to own and control their data and assets, providing a level of security and autonomy that traditional centralized applications can't allow.
Other technologies involved in metaverse development include VR and AR, interactive tools that allow users to experience the virtual world by interacting with virtual objects and navigating the metaverse. Additionally, AI and natural language processing can help to create more realistic and interactive avatars within the metaverse.
As the metaverse continues to evolve, more use cases for blockchain and crypto are likely to be found. As it is, they have the potential to transform how people interact and how they conduct business in the metaverse. By enabling decentralized, trustless, and transparent interactions, blockchain and its applications can help to create a more open, secure, and efficient metaverse.
The Future of the Metaverse
Metaverse development has come a long way in recent years. However, the infrastructure and services required to support its growth have yet to be fully realized. For instance, the technology that drives virtual environments must be further developed to be as realistic and engaging as possible.
In addition, the metaverse requires high-speed, low-latency networks that can support large numbers of users in real time, as well as tools and platforms to create and share virtual experiences. There are also issues related to privacy, security, and governance developers must address to ensure the metaverse is a safe and inclusive space for all users.
Additionally, the growth of the metaverse will likely be influenced by further innovation in technologies like extended reality, AI, machine learning, 3D engines, cloud, edge computing, and 5G connectivity. As they improve, the metaverse will become increasingly immersive and realistic, allowing users to experience a digital world that feels just like the real one.
It's still too early to say if the metaverse will become the killer app for blockchain technology. However, as blockchain can securely and transparently record transactions and enable the creation of digital assets and new applications, it could be a fitting choice for the development and operation of the metaverse.
Closing Thoughts
The concept of the metaverse has its roots in sci-fi, beginning as a fictional universe explored in books, TV, and film. However, as technology has advanced, the idea of an immersive shared digital world has become increasingly feasible.
The rise of cryptocurrencies and blockchain technology has also played a significant role in the development of the metaverse by providing a decentralized and secure platform for virtual transactions and interactions. While the metaverse as we know it today is still in its infancy, it holds enormous potential for transforming how we live, work, and play in the digital world.
Further Reading
Which Companies Have Stocks in the Metaverse?What Is Metaverse Real Estate?Can There Be More Than One Metaverse?4 Blockchain and Crypto Projects in the MetaverseWhat Is ApeCoin (APE)?
The term “metaverse” describes the collective virtual spaces where our physical and digital worlds intersect. The concept has been bending the minds of science fiction enthusiasts for ages. However, it has only recently begun to show indications of becoming a reality, with technological advancements and the proliferation of the Internet. The role of blockchain technology in the metaverse has also become increasingly important, as it provides the infrastructure for creating a decentralized and secure platform on which it can be built.
Introduction
The term "metaverse" was first coined in the early ’90s in the sci-fi world. In the years since, the concept of a metaverse has evolved due to recent technological innovations. It has also gained increasing attention as a potential digital platform for both social and economic activity.
The rise of blockchain technology and cryptocurrency has also played an important role in the development of the metaverse. Many projects have already explored it, using these technologies to create decentralized and immersive virtual worlds. This article will provide a brief history of the metaverse and explore crypto's role in its evolution.
Defining the Metaverse
The metaverse is still not entirely defined. However, the general idea is that it is a virtual space connecting our digital and real-world lives. Some call it the next evolution of the Internet that will make online experiences interactive and immersive.
Defining the metaverse is difficult as it encompasses much more than just a single product, service, or project. Instead, it combines different technologies, such as the Internet, augmented reality (AR), virtual reality (VR), artificial intelligence (AI), 3D reconstruction, and the Internet of Things (IoT).
In science fiction where the term “metaverse” originated, it’s portrayed as a highly immersive and interactive virtual world. Today, blockchain technology and cryptocurrencies are taking actionable steps to make this concept a reality.
The Web3 movement has shown that the metaverse is not just confined to the sci-fi genre but is something that might already exist. Web3 has been forming an ecosystem that incentivizes developers to build metaverse-like decentralized applications (DApps), such as play-to-earn (P2E) games. Games like Axie Infinity, The Sandbox, and Decentraland already contain aspects of the metaverse, connecting elements of players' lives to online worlds.
A Brief History of the Metaverse
Over the years, different ideas and technological advancements have driven us closer to the concept of the metaverse we currently understand. From the concept of binocular vision, through the creation of Bitcoin and Ethereum, all the way to the rebranding of Facebook – the metaverse has a deep foundation.
1838
As mentioned earlier, the metaverse will probably use VR technology to immerse people in digital environments. The earliest instance of VR occurred in 1838, when scientist Sir Charles Wheatstone outlined the concept of "binocular vision," constructing a single 3D image.
This initial research led to the development of stereoscopes, a technology that uses the illusion of depth to create an image — the same technology VR headsets utilize today.
1935
American sci-fi author Stanley Weinbaum published the book Pygmalion's Spectacles, which introduced readers to the possibility of virtual reality. The book's main character immerses himself in a fictional world using a pair of goggles that mimic all human senses, making the world seem real.
1938
It's often said that French poet and playwright Antoine Artaud was the first to use the term "virtual reality" or "la réalité virtuelle." He wrote about it in his collection of essays, The Theater and its Double, where he spoke about how theaters can stage characters, objects, and images to create alternative worlds.
1962
American filmmaker Morton Heilig built a machine that made people feel like they were riding a motorcycle in another location. The device, named Sensorama, immersed its users in a different reality by combining effects such as a moving seat, scents, and 3D screens. Even though the machine never progressed past the prototype stage, it demonstrated the possibility of blurring the lines between illusion and reality.
1984
Virtual reality pioneers Jaron Lanier and Thomas G. Zimmerman founded VPL Research, Inc., one of the first companies to develop and sell VR products such as VR headsets and data gloves (or wired gloves).
1989
British computer scientist Tim Berners-Lee wrote the first proposal for the World Wide Web while working at CERN. The web was initially created for universities and institutions to share information worldwide.
1992
The metaverse was first mentioned in the sci-fi novel Snow Crash by Neal Stephenson. The American sci-fi writer illustrated a dystopian future world that allowed people to use digital avatars to escape to a better alternate reality.
1993
Computer scientists Moni Naor and Cynthia Dwork invented the proof-of-work (PoW) concept to prevent service misuses, such as denial-of-service attacks and network spam. This controlled unwanted network behavior by requiring proof of work, such as computer processing time, from a service requester.
2003
Linden Lab launched multimedia platform Second Life. While not fully immersive (no goggles or gloves are involved), users can connect to shared virtual spaces to explore, interact, and create using their computers. Second Life is not seen as a game but more of an online gathering place where anyone can create a new digital presence.
2006
Roblox Corporation released the game platform Roblox, which allows users to play various multi-player games. In addition, users can develop their own games and for others to play. While users can play Roblox for free, it has an in-game store where players can spend their virtual money, called Robux.
2007
Google released Street View to add to its existing Maps product. Street View enables people to turn a map into a representation of the real world — anyone can view a street on their mobile device or computer as it appears in real life.
2009
Satoshi Nakamoto announced the first major decentralized blockchain and cryptocurrency, Bitcoin, in 2008. He then mined the first BTC in 2009.
2012
Entrepreneur Palmer Luckey launched Oculus, a headset whose hardware can connect users to a 3D virtual world where they can work, socialize and enjoy entertainment. Two years later, in 2014, Facebook bought Oculus, intending to scale the technology for the masses.
2014
Kevin McCoy and Anil Dash minted the first ever non-fungible token (NFT), Quantum, which contained an image of a pixelated octagon. Minted on the Namecoin blockchain, it wasn't called an NFT but instead, conceptualized as "monetized graphics".
2015
Vitalik Buterin proposed the idea of Ethereum in a 2013 blog post titled Ethereum: The Ultimate Smart Contract and Decentralized Application Platform. The decentralized computing platform Ethereum then launched in 2015. Ethereum allows developers to experiment with their own code to create DApps by using smart contracts.
2016
2016 was the year of both decentralized autonomous organizations (DAOs) and Pokémon GO coming into existence. The first DAO, simply called The DAO, was launched on Ethereum with a vision that every member could comprise its governing body.
Pokémon GO, which uses AR to connect to a 3D map of the real world, has become one of the most successful mobile games of all time. In 2016 alone, it became one of the world’s most profitable and widely used mobile apps, having been downloaded over 500 million times globally by the end of the year.
2021
Facebook rebranded to Meta, which then established the metaverse as something more tangible than a sci-fi concept. Since then, the company has invested billions of dollars in developing and acquiring metaverse-related resources such as metaverse content, software, and AR and VR headsets.
2022
Siemens and NVIDIA announced a joint partnership to create the Industrial Metaverse. The collaboration draws on Siemens’ reputation in industrial automation and software, infrastructure, building technology, and transportation and NVIDIA’s status as a pioneer in accelerated graphics and AI. According to the Siemens CEO, the collaboration will enable a real-time, immersive metaverse that connects hardware and software.
Blockchain and Crypto’s Role in the Metaverse
Blockchain technology and cryptocurrency can play a foundational role in metaverse development. Firstly, blockchains can provide the infrastructure for secure and transparent transactions in the metaverse, such as cryptocurrencies for fast and secure transfers of value. Secondly, the nature of Ethereum enables the creation of NFTs, which can be used to represent unique virtual items in the metaverse.
Thirdly, DApps could make metaverse services and functionality more decentralized so it won’t be controlled by any single organization. They can also enable users to own and control their data and assets, providing a level of security and autonomy that traditional centralized applications can't allow.
Other technologies involved in metaverse development include VR and AR, interactive tools that allow users to experience the virtual world by interacting with virtual objects and navigating the metaverse. Additionally, AI and natural language processing can help to create more realistic and interactive avatars within the metaverse.
As the metaverse continues to evolve, more use cases for blockchain and crypto are likely to be found. As it is, they have the potential to transform how people interact and how they conduct business in the metaverse. By enabling decentralized, trustless, and transparent interactions, blockchain and its applications can help to create a more open, secure, and efficient metaverse.
The Future of the Metaverse
Metaverse development has come a long way in recent years. However, the infrastructure and services required to support its growth have yet to be fully realized. For instance, the technology that drives virtual environments must be further developed to be as realistic and engaging as possible.
In addition, the metaverse requires high-speed, low-latency networks that can support large numbers of users in real time, as well as tools and platforms to create and share virtual experiences. There are also issues related to privacy, security, and governance developers must address to ensure the metaverse is a safe and inclusive space for all users.
Additionally, the growth of the metaverse will likely be influenced by further innovation in technologies like extended reality, AI, machine learning, 3D engines, cloud, edge computing, and 5G connectivity. As they improve, the metaverse will become increasingly immersive and realistic, allowing users to experience a digital world that feels just like the real one.
It's still too early to say if the metaverse will become the killer app for blockchain technology. However, as blockchain can securely and transparently record transactions and enable the creation of digital assets and new applications, it could be a fitting choice for the development and operation of the metaverse.
Closing Thoughts
The concept of the metaverse has its roots in sci-fi, beginning as a fictional universe explored in books, TV, and film. However, as technology has advanced, the idea of an immersive shared digital world has become increasingly feasible.
The rise of cryptocurrencies and blockchain technology has also played a significant role in the development of the metaverse by providing a decentralized and secure platform for virtual transactions and interactions. While the metaverse as we know it today is still in its infancy, it holds enormous potential for transforming how we live, work, and play in the digital world.
Further Reading
Which Companies Have Stocks in the Metaverse?What Is Metaverse Real Estate?Can There Be More Than One Metaverse?4 Blockchain and Crypto Projects in the MetaverseWhat Is ApeCoin (APE)?
#WLD $WLD
The recent departure of Sam Altman, CEO of OpenAI, has created a wave of uncertainty in both the tech and cryptocurrency communities. Conflicting reports and opinions about what Altman did or didn't do have since emerged, attributing his ousting to communication issues which caused the board to doubt his leadership.
The news has had a direct effect on WorldCoin, the cryptocurrency project Altman was leading. The value of WorldCoin has dropped by more than 12%, with analysts citing the uncertainty of Altman's situation as the major factor. These losses only add to the already tumultuous environment for cryptocurrency, which, in the nine months of 2019 alone, has seen its total market cap drop from a high valued at over $220 billion to a low of $110 billion.
Although some of this volatility can be attributed to speculation and a lack of faith in certain cryptos, the impact of Altman's departure and the associated drop in value is a reminder of the fragility of cryptocurrencies and the risks associated with investing in them.
It remains to be seen how much of an impact Altman's departure from OpenAI and loss in value will have in the long-term. Many industry insiders fear that the lack of leadership and trust in Altman's direction will cause substantial disruption to projects that he had a hand in. At the same time, cryptocurrency enthusiasts are cautiously optimistic that markets will eventually settle and rebound, especially in light of recent advances in terms of security and regulation.
Ultimately, only time will tell how OpenAI and Worldcoin will recover from Altman's departure. For now, however, the markets are clearly bearing the brunt of the consequences.
The recent departure of Sam Altman, CEO of OpenAI, has created a wave of uncertainty in both the tech and cryptocurrency communities. Conflicting reports and opinions about what Altman did or didn't do have since emerged, attributing his ousting to communication issues which caused the board to doubt his leadership.
The news has had a direct effect on WorldCoin, the cryptocurrency project Altman was leading. The value of WorldCoin has dropped by more than 12%, with analysts citing the uncertainty of Altman's situation as the major factor. These losses only add to the already tumultuous environment for cryptocurrency, which, in the nine months of 2019 alone, has seen its total market cap drop from a high valued at over $220 billion to a low of $110 billion.
Although some of this volatility can be attributed to speculation and a lack of faith in certain cryptos, the impact of Altman's departure and the associated drop in value is a reminder of the fragility of cryptocurrencies and the risks associated with investing in them.
It remains to be seen how much of an impact Altman's departure from OpenAI and loss in value will have in the long-term. Many industry insiders fear that the lack of leadership and trust in Altman's direction will cause substantial disruption to projects that he had a hand in. At the same time, cryptocurrency enthusiasts are cautiously optimistic that markets will eventually settle and rebound, especially in light of recent advances in terms of security and regulation.
Ultimately, only time will tell how OpenAI and Worldcoin will recover from Altman's departure. For now, however, the markets are clearly bearing the brunt of the consequences.
#AVAX $AVAX
Avalanche (AVAX) is a Layer 1 platform that has seen a remarkable 160% rise in its native token price this month. It is an open-source platform for launching decentralised finance (DeFi) applications and customisable blockchains. The Avalanche ecosystem includes its own blockchain protocol, consensus protocol and virtual machine, as well as a suite of tools for developers to create and deploy blockchain applications.
The Avalanche protocol is designed to support high throughput and high scalability, allowing for numerous applications to be deployed on its platform. It supports various consensus algorithms, allowing for a range of decentralised applications to be built, including stablecoins, non-fungible tokens (NFTs), digital asset exchanges, insurance products, distributed games, among others.
Avalanche also has a unique tokenomics model that is designed to incentivise its community and ecosystem participants. The network has three types of tokens: AVAX, P-CIP and X-CIP, each with different roles and use cases. AVAX is the native token of the Avalanche network and is used to grant access to the network, secure the network and interact with smart contracts. P-CIP and X-CIP are used to provide governance and staking rewards to users.
Avalanche is one of the most promising Layer 1 platforms, with a lot of potential for growth. It has a strong team of developers that have been working on delivering solutions such as the Avalanche consensus protocol, which is designed to be more secure and efficient than other protocols. Additionally, its unique tokenomics model is designed to incentivise users to participate in the network and help grow the ecosystem.
Overall, Avalanche is a promising Layer 1 platform that is well-positioned to capture a share of the DeFi and blockchain industry. With its strong team and technology, as well as its innovative tokenomics model, it is sure to be an attractive platform for developers and users.
Avalanche (AVAX) is a Layer 1 platform that has seen a remarkable 160% rise in its native token price this month. It is an open-source platform for launching decentralised finance (DeFi) applications and customisable blockchains. The Avalanche ecosystem includes its own blockchain protocol, consensus protocol and virtual machine, as well as a suite of tools for developers to create and deploy blockchain applications.
The Avalanche protocol is designed to support high throughput and high scalability, allowing for numerous applications to be deployed on its platform. It supports various consensus algorithms, allowing for a range of decentralised applications to be built, including stablecoins, non-fungible tokens (NFTs), digital asset exchanges, insurance products, distributed games, among others.
Avalanche also has a unique tokenomics model that is designed to incentivise its community and ecosystem participants. The network has three types of tokens: AVAX, P-CIP and X-CIP, each with different roles and use cases. AVAX is the native token of the Avalanche network and is used to grant access to the network, secure the network and interact with smart contracts. P-CIP and X-CIP are used to provide governance and staking rewards to users.
Avalanche is one of the most promising Layer 1 platforms, with a lot of potential for growth. It has a strong team of developers that have been working on delivering solutions such as the Avalanche consensus protocol, which is designed to be more secure and efficient than other protocols. Additionally, its unique tokenomics model is designed to incentivise users to participate in the network and help grow the ecosystem.
Overall, Avalanche is a promising Layer 1 platform that is well-positioned to capture a share of the DeFi and blockchain industry. With its strong team and technology, as well as its innovative tokenomics model, it is sure to be an attractive platform for developers and users.
#JUP $SOL
The JUP Community Airdrop is a rewarding initiative from the Jupiter Project, a blockchain designed to bring access to entertainment and rewards people with crypto assets and content tokens. The JUP Community Airdrop involves approximately 955K eligible wallets that interacted before November 2nd and will distribute 10 billion JUP tokens, with 40% (4 billion tokens) allocated over four rounds.
During the four rounds of the JUP Community Airdrop, eligible wallets will receive 100 JUP coins in each airdrop round. The first round was released on the 15th of November, followed by the second round on the 30th of November. The third round will be released on the 15th of December, with the final round being released on the 30th of December.
The remaining 6 billion JUP tokens will be used to build the Jupiter Network’s ecosystem, primarily focusing on payment services, gaming and defi services and products. Jupiter Network is also inclusive of a marketplace platform to allow users to buy and sell their digital content and products, as well as higher yield savings products.
After the mainnet launch of the JUP token, holders will be able to trade JUP tokens directly on decentralized exchanges such as UniSwap. JUP tokens can then be used to purchase content, products and services from within the Jupiter Network’s ecosystem.
The JUP Community Airdrop is a great way for users to get involved in the Jupiter Project and benefit from both the utility and growth of the token. Participants in each of the 4 rounds will also earn rewards for engaging with content on the Jupiter Network by staking and playing interactive games.
In conclusion, the JUP Community Airdrop is a great opportunity to get involved in the Jupiter Network and start building your cryptocurrency portfolio. Participants will be rewarded with 10 billion JUP tokens, with 4 billion tokens being distributed in the four rounds of the airdrop. After the mainnet launch of the JUP token, users can then benefit from the utility of the token, as well as its appreciation as the project expands.
The JUP Community Airdrop is a rewarding initiative from the Jupiter Project, a blockchain designed to bring access to entertainment and rewards people with crypto assets and content tokens. The JUP Community Airdrop involves approximately 955K eligible wallets that interacted before November 2nd and will distribute 10 billion JUP tokens, with 40% (4 billion tokens) allocated over four rounds.
During the four rounds of the JUP Community Airdrop, eligible wallets will receive 100 JUP coins in each airdrop round. The first round was released on the 15th of November, followed by the second round on the 30th of November. The third round will be released on the 15th of December, with the final round being released on the 30th of December.
The remaining 6 billion JUP tokens will be used to build the Jupiter Network’s ecosystem, primarily focusing on payment services, gaming and defi services and products. Jupiter Network is also inclusive of a marketplace platform to allow users to buy and sell their digital content and products, as well as higher yield savings products.
After the mainnet launch of the JUP token, holders will be able to trade JUP tokens directly on decentralized exchanges such as UniSwap. JUP tokens can then be used to purchase content, products and services from within the Jupiter Network’s ecosystem.
The JUP Community Airdrop is a great way for users to get involved in the Jupiter Project and benefit from both the utility and growth of the token. Participants in each of the 4 rounds will also earn rewards for engaging with content on the Jupiter Network by staking and playing interactive games.
In conclusion, the JUP Community Airdrop is a great opportunity to get involved in the Jupiter Network and start building your cryptocurrency portfolio. Participants will be rewarded with 10 billion JUP tokens, with 4 billion tokens being distributed in the four rounds of the airdrop. After the mainnet launch of the JUP token, users can then benefit from the utility of the token, as well as its appreciation as the project expands.
$BTC #dYdX
The decentralized digital assets lending and borrowing project dYdX and Noble, an Open Financial Framework for cross-chain transfers are proud to announce their new initiatives. Circle, a leader in the stablecoin and transfer space, has created a CCTP (Circle Cross-Chain Transfer Protocol) integration with Noble and dYdX Chains. This technology will allow instant transfer of USDC from other networks to dYdX Chain, creating faster and more efficient cross-chain payments and transfers.
This new initiative is part of a larger initiative to make the world of transfer and payments faster and more efficient. On Nov. 3, Circle’s CCTP tech was available on Noble’s testnet and will launch on the network’s mainnet on Nov. 28. With this new innovation, customers will now be able to move USDC transfers from other networks to dYdX Chain’s layer one in a secure, trustless, and efficient manner. Moreover, the protocol introduces asset sovereignty for the user, meaning that all assets are always under the user’s control.
The dYdX team believes this new initiative will help to further financial inclusion and bridge the gap between traditional banking and the still young but rapidly growing world of digital assets. Moreover, this new initiative will help to unlock increased liquidity for dYdX’s products and services. Moving forward, Circle, Noble, and dYdX invite others in the blockchain space to be a part of this initiative, and create a more smooth, secure, and trustless environment for users.
The partnership between these three leaders in the blockchain space further affirms the potential of their technologies. With the launch of Circle’s CCTP in just a few weeks, it is only a matter of time before we begin to see the benefits of faster and more efficient transfers in the digital asset world.
The decentralized digital assets lending and borrowing project dYdX and Noble, an Open Financial Framework for cross-chain transfers are proud to announce their new initiatives. Circle, a leader in the stablecoin and transfer space, has created a CCTP (Circle Cross-Chain Transfer Protocol) integration with Noble and dYdX Chains. This technology will allow instant transfer of USDC from other networks to dYdX Chain, creating faster and more efficient cross-chain payments and transfers.
This new initiative is part of a larger initiative to make the world of transfer and payments faster and more efficient. On Nov. 3, Circle’s CCTP tech was available on Noble’s testnet and will launch on the network’s mainnet on Nov. 28. With this new innovation, customers will now be able to move USDC transfers from other networks to dYdX Chain’s layer one in a secure, trustless, and efficient manner. Moreover, the protocol introduces asset sovereignty for the user, meaning that all assets are always under the user’s control.
The dYdX team believes this new initiative will help to further financial inclusion and bridge the gap between traditional banking and the still young but rapidly growing world of digital assets. Moreover, this new initiative will help to unlock increased liquidity for dYdX’s products and services. Moving forward, Circle, Noble, and dYdX invite others in the blockchain space to be a part of this initiative, and create a more smooth, secure, and trustless environment for users.
The partnership between these three leaders in the blockchain space further affirms the potential of their technologies. With the launch of Circle’s CCTP in just a few weeks, it is only a matter of time before we begin to see the benefits of faster and more efficient transfers in the digital asset world.
$GROK #GROK
Elon Musk, the innovative entrepreneur and founder of Tesla, SpaceX, and many other revolutionary projects, recently launched a token called the GROK token. This new token has been designed to help foster innovation and facilitate global collaboration.
The GROK token is a token built on the Ethereum blockchain. This means it is a digital asset with an associated blockchain-powered network that allows it to be traded securely, quickly, and easily. By utilizing the blockchain, the GROK token ensures that all transactions are immutable and secure, allowing for the development of trustless applications.
The main purpose of the GROK token is to encourage open collaboration between businesses, entrepreneurs, and software developers. The token allows these various entities to come together and create innovative projects. The importance of such projects is highlighted by Musk’s own mission, which is to use innovation to develop alternative energy sources and transportation solutions that reduce the world’s reliance on fossil fuels.
In addition to encouraging innovation, the GROK token also allows users to participate in a governance system. This means that the token will provide users with a say in the development of the platform. It is a way for users to weigh in on the governance decisions of the platform and help shape its future.
The GROK token is a revolutionary new token designed to help foster a better collaborative environment for businesses, entrepreneurs, and developers. Utilizing the Blockchain, it helps to promote transparency and trust as well as providing an avenue for stakeholders to be involved in a decentralized governance system. If successful, it should help foster further innovation and collaboration between these groups, resulting in more efficient and impactful projects.
Elon Musk, the innovative entrepreneur and founder of Tesla, SpaceX, and many other revolutionary projects, recently launched a token called the GROK token. This new token has been designed to help foster innovation and facilitate global collaboration.
The GROK token is a token built on the Ethereum blockchain. This means it is a digital asset with an associated blockchain-powered network that allows it to be traded securely, quickly, and easily. By utilizing the blockchain, the GROK token ensures that all transactions are immutable and secure, allowing for the development of trustless applications.
The main purpose of the GROK token is to encourage open collaboration between businesses, entrepreneurs, and software developers. The token allows these various entities to come together and create innovative projects. The importance of such projects is highlighted by Musk’s own mission, which is to use innovation to develop alternative energy sources and transportation solutions that reduce the world’s reliance on fossil fuels.
In addition to encouraging innovation, the GROK token also allows users to participate in a governance system. This means that the token will provide users with a say in the development of the platform. It is a way for users to weigh in on the governance decisions of the platform and help shape its future.
The GROK token is a revolutionary new token designed to help foster a better collaborative environment for businesses, entrepreneurs, and developers. Utilizing the Blockchain, it helps to promote transparency and trust as well as providing an avenue for stakeholders to be involved in a decentralized governance system. If successful, it should help foster further innovation and collaboration between these groups, resulting in more efficient and impactful projects.
$BTC
#BTCHALVING
Bitcoin halving refers to the process of reducing the mining rewards offered to miners. This event occurs approximately every four years and is an integral part of the Bitcoin network. The halving date is determined by the Bitcoin protocol and is based on the total amount of blocks calculated since the Bitcoin's creation in 2009. When a halving takes place, the mining rewards for miners are cut in half.
The goal of halving is twofold:
First, it reduces the rate at which new Bitcoins are created, thereby controlling the rate of inflation. This ensures Bitcoin's long-term monetary value.
Second, it encourages miners to continue to work on the Bitcoin network, as the mining rewards become even more valuable.
In 2020, a third halving event has taken place - the mining rewards were reduced from 12.5 BTC to 6.25 BTC. This resulted in a rise in the price of Bitcoin, as an increasing number of people become interested in buying it due to the reduced supply of new coins.
At the same time, the Bitcoin network has seen an increase in the difficulty of mining. This is due to the higher-than-usual number of miners competing for the same block rewards. As a result, mining has become more competitive and requires more resources in order to be profitable.
The overall effects of bitcoin halving are two-fold. It has increased the value of Bitcoin, as the reduced supply of new coins has made it more attractive to investors. At the same time, it has made mining more difficult and expensive, as miners must compete for the same limited rewards. Overall, the halving event helps ensure the long-term value of the Bitcoin network.
#BTCHALVING
Bitcoin halving refers to the process of reducing the mining rewards offered to miners. This event occurs approximately every four years and is an integral part of the Bitcoin network. The halving date is determined by the Bitcoin protocol and is based on the total amount of blocks calculated since the Bitcoin's creation in 2009. When a halving takes place, the mining rewards for miners are cut in half.
The goal of halving is twofold:
First, it reduces the rate at which new Bitcoins are created, thereby controlling the rate of inflation. This ensures Bitcoin's long-term monetary value.
Second, it encourages miners to continue to work on the Bitcoin network, as the mining rewards become even more valuable.
In 2020, a third halving event has taken place - the mining rewards were reduced from 12.5 BTC to 6.25 BTC. This resulted in a rise in the price of Bitcoin, as an increasing number of people become interested in buying it due to the reduced supply of new coins.
At the same time, the Bitcoin network has seen an increase in the difficulty of mining. This is due to the higher-than-usual number of miners competing for the same block rewards. As a result, mining has become more competitive and requires more resources in order to be profitable.
The overall effects of bitcoin halving are two-fold. It has increased the value of Bitcoin, as the reduced supply of new coins has made it more attractive to investors. At the same time, it has made mining more difficult and expensive, as miners must compete for the same limited rewards. Overall, the halving event helps ensure the long-term value of the Bitcoin network.
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What Is the Ethereum Cancun Upgrade?
Key Takeaways
The Ethereum Cancun upgrade aims to enhance scalability, security, and efficiency within the Ethereum network, introducing the concept of proto-danksharding.
Danksharding represents the final phase of the Ethereum 2.0 (Serenity) upgrade that enhances data management and transaction processing.
The Ethereum Cancun upgrade is designed to bring faster transaction processing times, reduced transaction costs, and optimized data management. Potential risks include impacts on existing smart contracts and the integration of new data storage techniques.
The Ethereum Cancun upgrade was initially planned to go live in October 2023 but was later delayed to the first half of 2024. It went live on the Ethereum mainnet on March 13, 2024.
Introduction
Ethereum's transition to Proof of Stake (PoS) and the introduction of sharding are vital components of its Ethereum 2.0 upgrade. PoS reduces energy consumption by replacing miners with validators, who are selected to create new blocks based on the amount of ETH they stake.
Meanwhile, sharding increases transaction speed by partitioning the Ethereum network into smaller pieces (shards), with each capable of independently processing transactions and smart contracts. The shift from PoW to PoS enables secure and efficient sharding by randomly assigning validators to specific shards, preventing manipulation and enhancing performance.
The Ethereum Cancun upgrade represents an important advancement in the Ethereum blockchain, aimed at fortifying the network's scalability, security, and overall efficiency. This upgrade introduces the concept of proto-danksharding, an important step toward optimizing data management and enhancing transaction affordability within the Ethereum ecosystem.
By leveraging innovative data storage techniques, the Ethereum Cancun upgrade is poised to revolutionize the way the network processes transactions, paving the way for a more accessible and seamless user experience.
Understanding the Ethereum Cancun Upgrade
The Ethereum Cancun upgrade (also known as the “Cancun-Deneb” upgrade) is a concerted effort by Ethereum to bolster its infrastructure and address unresolved issues after the Shanghai upgrade.
The Cancun upgrade is based on four Ethereum Improvement Proposals (EIPs): EIP-4844, EIP-1153, EIP-4788, and EIP-6780. Together, the implementation of these EIPs can provide many benefits, including improved scalability, enhanced data storage and availability, and reduced transaction costs.
With a primary focus on optimizing the execution layer (Layer 1), the Cancun upgrade prepares the network for the future implementation of full data sharding, a vital component in Ethereum's long-term development strategy.
Sharding refers to splitting a blockchain database into smaller portions, called shards, for higher efficiency, and the Cancun upgrade introduces a specific type of sharding known as proto-danksharding (discussed below).
The goal of the Cancun upgrade is to increase the network’s transactions per second (TPS), aligning with Ethereum's roadmap's "Surge" phase, aiming to scale performance to 100,000+ TPS.
The Cancun upgrade – along with the subsequent Deneb upgrade – represents a significant milestone in Ethereum's journey towards establishing itself as a leading decentralized finance platform.
Danksharding and Proto-Danksharding
Danksharding and proto-danksharding are different iterations of the sharding technology developed for Ethereum. Named after Ethereum researcher Dankrad Feist, danksharding is a type of sharding that serves as the final phase of the Ethereum 2.0 (Serenity) upgrade. It concentrates on optimizing data availability for rollups within the Ethereum network.
Technically speaking, danksharding is a design that introduces the concept of a merged market fee. While traditional sharding has different blocks and block proposers for each shard, there is only one block proposer in danksharding. In simple terms, danksharding can enhance transaction processing and streamline data storage by simplifying the sharding architecture and prioritizing data management.
In the context of the upgrade, proto-danksharding (introduced by EIP-4844) serves as a prototype of danksharding. It’s a temporary solution that can significantly reduce gas fees associated with rollups before the complete implementation of the danksharding framework.
Blob-carrying transactions
Blob-carrying transactions were introduced along with proto-danksharding (EIP-4844) to help reduce gas fees. Blob-carrying transactions allow the temporary storage and retrieval of off-chain data, meaning extra data can be added to Ethereum transactions in a more cost-effective way.
Benefits of the Ethereum Cancun Upgrade
As we’ve discussed, the Ethereum Cancun upgrade can provide a range of benefits, including faster transaction processing, reduced transaction costs, optimized data management, and improved cross-chain communication. By introducing the concept of blob-carrying transactions, the upgrade aims to streamline data processing and enhance overall network efficiency.
1. Better scalability: Proto-danksharding introduces temporary data storage capacity, allowing Layer 2 rollups (and the network as a whole) to process more transactions per second.
2. Reduced transaction costs: Blob-carrying transactions allow extra data to be added to Ethereum transactions in a more cost-effective way.
3. Optimized data management: EIP-1153 can optimize block space and reduce on-chain data storage costs.
4. Better cross-chain communication: EIP-4788 aims to improve interoperability between different blockchain networks by exposing the Beacon chain to execution layers.
5. Improved security: EIP-6780 can reduce the risk of smart contract termination by disempowering the SELFDESTRUCT code, enhancing the security of user data and funds.
Potential Risks of the Ethereum Cancun Upgrade
There might be risks related to the potential impact of the upgrade on existing smart contracts and the intricacies of integrating new data storage techniques. These require extensive testing and careful consideration during the implementation phase to ensure a smooth transition for all stakeholders involved.
Ethereum Cancun Launch Date
The Ethereum Cancun-Deneb upgrade was initially planned to go live in October 2023 but was later delayed to the first half of 2024. It went live on the Ethereum mainnet on March 13, 2024 (at epoch 269,568). Node operators and stakers must upgrade their software to releases listed in the official announcement.
Closing Thoughts
The Ethereum Cancun-Deneb (Dencun) upgrade marks a significant leap forward in Ethereum's quest for improved scalability, efficiency, and user experience. By introducing proto-danksharding and laying the groundwork for future advancements, the Ethereum Cancun Upgrade will likely enhance the realm of decentralized finance and blockchain technology.
Further Reading
What Is Ethereum 2.0 and Why Does It Matter?
Blockchain Layer 1 vs. Layer 2 Scaling Solutions
Blockchain Scalability - Sidechains and Payment Channels
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
The Ethereum Cancun upgrade aims to enhance scalability, security, and efficiency within the Ethereum network, introducing the concept of proto-danksharding.
Danksharding represents the final phase of the Ethereum 2.0 (Serenity) upgrade that enhances data management and transaction processing.
The Ethereum Cancun upgrade is designed to bring faster transaction processing times, reduced transaction costs, and optimized data management. Potential risks include impacts on existing smart contracts and the integration of new data storage techniques.
The Ethereum Cancun upgrade was initially planned to go live in October 2023 but was later delayed to the first half of 2024. It went live on the Ethereum mainnet on March 13, 2024.
Introduction
Ethereum's transition to Proof of Stake (PoS) and the introduction of sharding are vital components of its Ethereum 2.0 upgrade. PoS reduces energy consumption by replacing miners with validators, who are selected to create new blocks based on the amount of ETH they stake.
Meanwhile, sharding increases transaction speed by partitioning the Ethereum network into smaller pieces (shards), with each capable of independently processing transactions and smart contracts. The shift from PoW to PoS enables secure and efficient sharding by randomly assigning validators to specific shards, preventing manipulation and enhancing performance.
The Ethereum Cancun upgrade represents an important advancement in the Ethereum blockchain, aimed at fortifying the network's scalability, security, and overall efficiency. This upgrade introduces the concept of proto-danksharding, an important step toward optimizing data management and enhancing transaction affordability within the Ethereum ecosystem.
By leveraging innovative data storage techniques, the Ethereum Cancun upgrade is poised to revolutionize the way the network processes transactions, paving the way for a more accessible and seamless user experience.
Understanding the Ethereum Cancun Upgrade
The Ethereum Cancun upgrade (also known as the “Cancun-Deneb” upgrade) is a concerted effort by Ethereum to bolster its infrastructure and address unresolved issues after the Shanghai upgrade.
The Cancun upgrade is based on four Ethereum Improvement Proposals (EIPs): EIP-4844, EIP-1153, EIP-4788, and EIP-6780. Together, the implementation of these EIPs can provide many benefits, including improved scalability, enhanced data storage and availability, and reduced transaction costs.
With a primary focus on optimizing the execution layer (Layer 1), the Cancun upgrade prepares the network for the future implementation of full data sharding, a vital component in Ethereum's long-term development strategy.
Sharding refers to splitting a blockchain database into smaller portions, called shards, for higher efficiency, and the Cancun upgrade introduces a specific type of sharding known as proto-danksharding (discussed below).
The goal of the Cancun upgrade is to increase the network’s transactions per second (TPS), aligning with Ethereum's roadmap's "Surge" phase, aiming to scale performance to 100,000+ TPS.
The Cancun upgrade – along with the subsequent Deneb upgrade – represents a significant milestone in Ethereum's journey towards establishing itself as a leading decentralized finance platform.
Danksharding and Proto-Danksharding
Danksharding and proto-danksharding are different iterations of the sharding technology developed for Ethereum. Named after Ethereum researcher Dankrad Feist, danksharding is a type of sharding that serves as the final phase of the Ethereum 2.0 (Serenity) upgrade. It concentrates on optimizing data availability for rollups within the Ethereum network.
Technically speaking, danksharding is a design that introduces the concept of a merged market fee. While traditional sharding has different blocks and block proposers for each shard, there is only one block proposer in danksharding. In simple terms, danksharding can enhance transaction processing and streamline data storage by simplifying the sharding architecture and prioritizing data management.
In the context of the upgrade, proto-danksharding (introduced by EIP-4844) serves as a prototype of danksharding. It’s a temporary solution that can significantly reduce gas fees associated with rollups before the complete implementation of the danksharding framework.
Blob-carrying transactions
Blob-carrying transactions were introduced along with proto-danksharding (EIP-4844) to help reduce gas fees. Blob-carrying transactions allow the temporary storage and retrieval of off-chain data, meaning extra data can be added to Ethereum transactions in a more cost-effective way.
Benefits of the Ethereum Cancun Upgrade
As we’ve discussed, the Ethereum Cancun upgrade can provide a range of benefits, including faster transaction processing, reduced transaction costs, optimized data management, and improved cross-chain communication. By introducing the concept of blob-carrying transactions, the upgrade aims to streamline data processing and enhance overall network efficiency.
1. Better scalability: Proto-danksharding introduces temporary data storage capacity, allowing Layer 2 rollups (and the network as a whole) to process more transactions per second.
2. Reduced transaction costs: Blob-carrying transactions allow extra data to be added to Ethereum transactions in a more cost-effective way.
3. Optimized data management: EIP-1153 can optimize block space and reduce on-chain data storage costs.
4. Better cross-chain communication: EIP-4788 aims to improve interoperability between different blockchain networks by exposing the Beacon chain to execution layers.
5. Improved security: EIP-6780 can reduce the risk of smart contract termination by disempowering the SELFDESTRUCT code, enhancing the security of user data and funds.
Potential Risks of the Ethereum Cancun Upgrade
There might be risks related to the potential impact of the upgrade on existing smart contracts and the intricacies of integrating new data storage techniques. These require extensive testing and careful consideration during the implementation phase to ensure a smooth transition for all stakeholders involved.
Ethereum Cancun Launch Date
The Ethereum Cancun-Deneb upgrade was initially planned to go live in October 2023 but was later delayed to the first half of 2024. It went live on the Ethereum mainnet on March 13, 2024 (at epoch 269,568). Node operators and stakers must upgrade their software to releases listed in the official announcement.
Closing Thoughts
The Ethereum Cancun-Deneb (Dencun) upgrade marks a significant leap forward in Ethereum's quest for improved scalability, efficiency, and user experience. By introducing proto-danksharding and laying the groundwork for future advancements, the Ethereum Cancun Upgrade will likely enhance the realm of decentralized finance and blockchain technology.
Further Reading
What Is Ethereum 2.0 and Why Does It Matter?
Blockchain Layer 1 vs. Layer 2 Scaling Solutions
Blockchain Scalability - Sidechains and Payment Channels
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Day #7 $BTC
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🚀 Daily #BTC Price Prediction Challenge - Day 7!
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must follow AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1.
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must follow AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1.
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
Predict now!
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--
🚀 Daily #BTC Price Prediction Challenge - Day 6!
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must follow AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1.
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must follow AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1.
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
$35000
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Bitcoin Falls Below 35,000 USDT
According to market data from Binance, Bitcoin fell below $35,000 USDT and is currently trading at 34,864.49 USDT, with a 24-hour decline narrowed to 0.49%.
wow
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Stablecoins Surge in Popularity Amid Market Turbulence, Outpacing DeFi
According to CryptoPotato, stablecoins have experienced a significant increase in popularity among investors, with a 45% growth in active addresses and a 41% increase in transactions between the first and third quarters of this year. In contrast, decentralized finance (DeFi) saw a decline in daily active addresses and transactions. Stablecoins surpassed DeFi protocols in terms of transactions on various blockchain networks, including Ethereum, Arbitrum, Polygon, and Optimism.
USDT continues to lead the stablecoin market in terms of market capitalization, active addresses, and transaction activity. It concluded Q3 with an average of 337,000 daily active addresses and 680,000 daily transactions. Although USDC maintained a lead over USDT in terms of volume for the third quarter, the gap has notably shrunk since Q1, primarily due to Silicon Valley Bank's (SVB) collapse and USDC's slight de-pegging of about $0.03. USDC experienced a significant volume decline, with a 62% decrease from Q1 to Q3.
In the DeFi sector, Uniswap is the only decentralized exchange (DEX) that has maintained stability since Q1 2023, despite the significant event of SVB's collapse. Uniswap experienced a 15% growth in active addresses and a 33% increase in transaction count during Q3, diverging from the broader DeFi trend. Staking is also gaining momentum within the DeFi subcategory, with the total staked Ether increasing from 23.7 million to 27.2 million in Q3. Liquid Staking, a concept that resembles distributing IOU tokens in exchange for staked assets, accounted for 37% of this increase. By the end of Q3, Lido DAO's protocol held 32% of the staked ETH, with its value growing from $7.6 billion to $8.8 billion, marking a 16% increase.
USDT continues to lead the stablecoin market in terms of market capitalization, active addresses, and transaction activity. It concluded Q3 with an average of 337,000 daily active addresses and 680,000 daily transactions. Although USDC maintained a lead over USDT in terms of volume for the third quarter, the gap has notably shrunk since Q1, primarily due to Silicon Valley Bank's (SVB) collapse and USDC's slight de-pegging of about $0.03. USDC experienced a significant volume decline, with a 62% decrease from Q1 to Q3.
In the DeFi sector, Uniswap is the only decentralized exchange (DEX) that has maintained stability since Q1 2023, despite the significant event of SVB's collapse. Uniswap experienced a 15% growth in active addresses and a 33% increase in transaction count during Q3, diverging from the broader DeFi trend. Staking is also gaining momentum within the DeFi subcategory, with the total staked Ether increasing from 23.7 million to 27.2 million in Q3. Liquid Staking, a concept that resembles distributing IOU tokens in exchange for staked assets, accounted for 37% of this increase. By the end of Q3, Lido DAO's protocol held 32% of the staked ETH, with its value growing from $7.6 billion to $8.8 billion, marking a 16% increase.
See original
Day2
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--
🚀 Daily #BTC Price Prediction Challenge - Day 2!
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must be a follow Binance Filipino Square AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
Predict the closing price of BTC at 5:00:00 PM UTC+8 tomorrow. Will your prediction be the most accurate?
🔮 Make your forecast now!
🔸 Reply with your numerical prediction in USD format (acceptable format: $43500)
👉 NOTE: To qualify, you must be a follow Binance Filipino Square AND be a member @BinanceFilipino on Telegram (bit.ly/3MnOVH2)
Your entry will not be eligible if you do not do #1
Everyday, the Top 3 most precise predictions win $10 in BTC and a Binance Hoodie. Top 4 and Top 5 wins $5 in BTC. Predictions will only be accepted until 5:00 PM everyday. (UTC+8) -
$750 Million is a lot.
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Marathon Digital Plans to Raise Up to $750 Million Through Mixed Equity Issuance
According to Foresight News, Bitcoin mining company Marathon Digital has submitted a FORM S-3 to the United States Securities and Exchange Commission (SEC), planning to raise up to $750 million through a mixed equity issuance. Marathon Digital stated, 'We may, from time to time, offer and sell common stock, preferred stock, warrants, units, or any combination of these securities in one or more offerings, at prices and on terms to be determined at the time of each offering, for an aggregate initial offering amount of up to $750 million.'
ALEO blockchain
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Aleo Blockchain Introduces zPass, a Zero Knowledge Identity Verification Protocol
According to Blockworks, Aleo, a zero knowledge privacy (ZKP) network, has introduced a protocol called zPass, which uses zero knowledge cryptography to verify identities. Users can upload identity documents offline to privacy servers and share anonymous proofs with organizations, eliminating the need for companies to store this data themselves. Users can control who they share their information with and how much personal data they reveal. Alex Pruden, Aleo's CEO, explained that zPass is based on a research paper on zk-creds, which aimed to create a digital record from a US passport for age verification purposes.
On zPass, a two-step process ensures that individual identities are safely verified. First, the issuance of the record on-chain is based on the existence of a physical record, and then individuals control their own privacy keys, which generate the proof of identity. John Reynolds, a product manager for Aleo, noted that existing zk identity systems either rely on centralized proving schemes or are decentralized but not private. Aleo's system allows users to act as provers, generating proofs that are validated by decentralized validators without pushing overhead verification to third-party systems.
Reynolds highlighted that decentralized identity solutions are not private, as information is publicly available on a database, allowing users to be tracked. With zPass, Aleo aims to focus primarily on providing zk age verification and creating child-safe spaces online. The main goal is to lean into age verification to support children and protect them from potential predators or predatory content.
On zPass, a two-step process ensures that individual identities are safely verified. First, the issuance of the record on-chain is based on the existence of a physical record, and then individuals control their own privacy keys, which generate the proof of identity. John Reynolds, a product manager for Aleo, noted that existing zk identity systems either rely on centralized proving schemes or are decentralized but not private. Aleo's system allows users to act as provers, generating proofs that are validated by decentralized validators without pushing overhead verification to third-party systems.
Reynolds highlighted that decentralized identity solutions are not private, as information is publicly available on a database, allowing users to be tracked. With zPass, Aleo aims to focus primarily on providing zk age verification and creating child-safe spaces online. The main goal is to lean into age verification to support children and protect them from potential predators or predatory content.
$ARK
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Binance News
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ARK Invest and 21Shares Obtain CUSIP Code for Bitcoin Spot ETF
According to Foresight News, ARK Invest and 21Shares have obtained a CUSIP code for their Bitcoin spot ETF 'ARKA', which is now listed on the DTCC (Depository Trust & Clearing Corporation) website. The CUSIP, or Committee on Uniform Security Identification Procedures, is a system owned by the American Bankers Association and operated by Standard & Poor's. It was established to provide a unique code for each security in North America.
Miner
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Binance News
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Bitcoin Miners Outperform BTC in 2023 with Over 100% Growth
According to CryptoPotato, Bitcoin mining companies have experienced significant growth in 2023, with nearly all publicly-traded firms soaring over 100% since January 1. This growth has been driven by both the rising value of Bitcoin and positive business developments within the industry. Shares for Marathon Digital (MARA), one of the largest public miners by hashrate, are currently up 158% year to date, while rivals Iris Energy (IREN) and Riot Platforms (RIOT) have surged 168% and 186% respectively.
Bitcoin's value has increased by 90% in 2023, largely due to a series of U.S. bank failures in March that shook confidence in the traditional financial system. Additionally, excitement surrounding the potential approval of a spot Bitcoin ETF before the end of the year has contributed to the cryptocurrency's rally. Bitcoin mining companies earn money by running powerful and expensive computer equipment to mine Bitcoin's next block, which contains a fixed portion of new BTC. As the value of Bitcoin rises, so does the dollar-denominated value of their rewards and profits.
The mining industry has made unique strides this year to boost its value proposition to investors. Firms like CleanSpark (CLSK) have announced multiple major investments in the latest Bitcoin mining hardware, bolstering their capacity to win new BTC. These investments have helped drive Bitcoin's total hashrate to many new highs this year and lowered the cost of old mining hardware that has become less efficient over time. Furthermore, miners are diversifying their operations, with companies like Iris, HIVE, and Applied Digital moving beyond Bitcoin mining and into cloud computing and HPC services using their existing infrastructure. These firms claim that such services are much more profitable per unit of energy than Bitcoin mining.
Bitcoin's value has increased by 90% in 2023, largely due to a series of U.S. bank failures in March that shook confidence in the traditional financial system. Additionally, excitement surrounding the potential approval of a spot Bitcoin ETF before the end of the year has contributed to the cryptocurrency's rally. Bitcoin mining companies earn money by running powerful and expensive computer equipment to mine Bitcoin's next block, which contains a fixed portion of new BTC. As the value of Bitcoin rises, so does the dollar-denominated value of their rewards and profits.
The mining industry has made unique strides this year to boost its value proposition to investors. Firms like CleanSpark (CLSK) have announced multiple major investments in the latest Bitcoin mining hardware, bolstering their capacity to win new BTC. These investments have helped drive Bitcoin's total hashrate to many new highs this year and lowered the cost of old mining hardware that has become less efficient over time. Furthermore, miners are diversifying their operations, with companies like Iris, HIVE, and Applied Digital moving beyond Bitcoin mining and into cloud computing and HPC services using their existing infrastructure. These firms claim that such services are much more profitable per unit of energy than Bitcoin mining.
Argentina
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Binance News
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Argentina Presidential Election: Finance Minister Massa Faces Bitcoin Supporter Milei
According to CoinDesk, Argentina's presidential election next month will be contested between current Finance Minister Sergio Massa and self-described anarcho-capitalist Javier Milei. In the first round of voting on Sunday, Massa secured 37% of the votes, while Milei came in second with 30%. Milei had been considered the favorite after winning the August primary presidential vote.
Milei has previously expressed support for bitcoin, stating that it 'represents the return of money to its original creator, the private sector.' He has also called for the abolishment of Argentina's central bank, labeling it a 'scam.' Unlike El Salvador's president Nayib Bukele, who led efforts to make bitcoin legal tender in his country, Milei has advocated for a 'dollarization' of Argentina's economy, where the inflation rate recently reached 124.4%. However, Barclays analysts suggest that consensus for a dollarization proposal is not particularly strong.
On the other hand, Massa opposes dollarizing the economy and has previously expressed interest in launching a central bank digital currency (CBDC) to help address Argentina's inflation crisis. The run-off election is scheduled for November 19, with both candidates aiming to gain support from third-place finisher Patricia Bullrich, who received approximately 24% of the vote.
Milei has previously expressed support for bitcoin, stating that it 'represents the return of money to its original creator, the private sector.' He has also called for the abolishment of Argentina's central bank, labeling it a 'scam.' Unlike El Salvador's president Nayib Bukele, who led efforts to make bitcoin legal tender in his country, Milei has advocated for a 'dollarization' of Argentina's economy, where the inflation rate recently reached 124.4%. However, Barclays analysts suggest that consensus for a dollarization proposal is not particularly strong.
On the other hand, Massa opposes dollarizing the economy and has previously expressed interest in launching a central bank digital currency (CBDC) to help address Argentina's inflation crisis. The run-off election is scheduled for November 19, with both candidates aiming to gain support from third-place finisher Patricia Bullrich, who received approximately 24% of the vote.
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